Options Action ReCap

Last week, we scored a rather profitable exacta, suggesting bullish options trades to profit from Cisco and Priceline earnings.

And this week, we appear to be setting up pretty nicely for another batch of winners.

Our first trade was a simple call purchase on Home Depot . Specifically, Cantor's Mike Khouwsuggested buying the November 39-strike call for $0.35, a trade that makes money if HD trades above $39.35 by November expiration.

His trade and breakdown are below:

MIKE'S HOME DEPOT OPTIONS TRADE

BUY THE NOVEMBER 39-STRIKE FOR $0.35

HOW MIKE’S HOME DEPOT TRADE MAKES MONEY

PROFITS ABOVE $39.35

LOSSES BELOW 39.35

The Big Box retailer reports tomorrow, and if call volume is any indication, options traders expect strong results. One options that's seeing a lot of interest today? That November 39-strike call we recommended. It has traded over 28,000 contracts today, nearly three times its open interest. Not to quote Sally Field too often in this blog, but we can't deny the fact that you like us.

Our second trade was a little more complicated and came courtesy of Dan Nathanof Riskreversal.com. He was nervous about the recent price action in Apple , and as such, recommended hitting the "pause" button and buying the December 400/370 collar against a long. The trade protects Apple stock and only costs $2.00.

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